China invests in Sri Lankan hotels
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Date: January 17, 2011
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A Chinese state-owned aviation company is investing US$500 million to build a five-star hotel in Colombo. On January 12 the Sri Lankan government approved the proposal to build the Skyline Hotel and Rainbow Multifunctional Shopping Complex. Construction is expected to start in late 2012. The 400-room hotel will be located at Galle Face in the heart of the Sri Lankan capital. The project will be built down the road from Hong Kong based Shangri-La Hotels’ latest luxury hotel, which is due to be completed by 2013. Tourist arrivals in Colombo increased by 46 per cent from last year with increased visitors from Western Europe and South Asia. The proposed projects will accommodate the expected 2.5 million tourists by 2016.
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